Kogan steps up fight with Amazon with new online marketplace

March 14, 2019 — 4.04pm

Kogan.com Limited has launched a marketplace for online retailers as it seeks to strengthen its position against Amazon, which runs a similar service.

More than 100,000 products from brands like Microsoft, Breville, Lego, Fisher-Price and Gillett are now available through its new Kogan Marketplace, Kogan said in a statement to the ASX on Thursday morning.

Relishing a good fight: Ruslan Kogan's retail group has just launched a new online marketplace to better compete with Amazon.Credit:John Woudstra

Kogan said it expects more retailers to sign up with the platform now that it has been launched.

"Our mission is to make the most in-demand products and services more affordable for all Australians," said Kogan Marketplace director Lazar Monin.

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Products sold through the site would be eligible for benefits such as earnings Qantas Frequent Flyer points, the company said.

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Kogan shares were up for the first time in eight days on the news, jumping 35 cents, or 9.7 per cent, to $3.92 by midafternoon on Thursday.

The company plans to report transaction volumes on its new marketplace by releasing the gross value of all transactions made through the site in its financial reports.

Only commissions received from those sales would be booked as revenue in its books, Kogan.com said.